Singapore’s classifieds marketplace Carousell raised $85 million in funds from investors including DBS Group Holdings Ltd, the city-state’s biggest lender.
The funding round was co-led by Japanese e-commerce company Rakuten’s fund, Rakuten Ventures, and Singapore’s EDBI. Existing investors 500 Startups, Golden Gate Ventures and Sequoia India also participated in the funding.
Separately, automotive marketplace Carro closed a $60 million funding round that was co-led by Facebook Inc co-founder Eduardo Saverin’s venture capital firm, B Capital Group, Softbank Ventures Korea and Insignia Ventures Partners.
Other investors, including Singtel Innov8 and Golden Gate Ventures, also took part in the round.